That seems to be the prevailing thought, now that we know that 2006 was one of only four years in the past seven decades or so that Americans spent more than they earned. In fact, 2006's -1% rate was second only to the -1.5% rate back in the Great Depression.
Of course, there are all sorts of explanations why this is nothing to worry about, from the methodology of the data (it doesn't include investment gains -- a fair-ish point) to rationalizations about how big gains in housing equity make everyone richer than they really look on paper.
Uh-huh. Sticklers for reality might point out that feeling rich isn't the same as being rich. (Try telling that to an American public that's so obsessed with fame and fortune that it's willing to do stuff like this.)
So while folks out there are happily swapping equity withdrawals for Apple
What good is a growing economy if earned disposable income isn't keeping up with splurging? After all, bubbles pop, even if they're not all that bubbly. Those shares of Coach
Comments? Bring them here.
At the time of publication, Seth Jayson had no positions in any company mentioned here. View his stock holdings and Fool profile here. Under Armour is a Motley Fool Rule Breakers recommendation. Fool rules are here.
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